US EditionTurkey to End Iraq Oil Pipeline Deal
TURKEY, JUL 20 – The 1.6 million barrels per day Kirkuk-Ceyhan pipeline has been inactive since 2023 after a $1.5 billion arbitration ruling, with Turkey open to renegotiating a new deal to resume exports.
- President Erdogan signed a decree ending the oil pipeline agreement between Turkey and Iraq, originally established in 1973, with termination set for July 27, 2026.
- The termination follows Turkey's March 2023 closure of the pipeline over unauthorized exports by Kurdish authorities, which led to a $1.5 billion damages ruling.
- The 970km Kirkuk-Ceyhan pipeline, with 1.6 million barrels per day capacity, has been offline for over two years amid disputes and production disruptions from drone attacks.
- A senior Turkish official stated that Turkey aims to establish a new agreement that would advantage both nations, while representatives of Kurdistan's oil sector expressed their willingness to restart exports once formal contracts are finalized.
- The decree ends all related protocols and could impact the Kurdish region’s oil revenue but reportedly will not affect global oil markets, while negotiations continue.
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Turkey Seeks Expanded Oil Cooperation With Iraq
Turkey has proposed a new energy cooperation deal to Iraq that expands on their previous relations in that sector, a government official in Baghdad told Reuters following the news that Turkey was looking to renegotiate a decades-long agreement with Iraq for oil transport. On Monday, the Turkish government said it would not seek to renew the pipeline deal after its expiration a year from now. The original agreement, first inked in 1973, concerns …
·London, United Kingdom
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Coverage Details
Total News Sources26
Leaning Left4Leaning Right3Center3Last UpdatedBias Distribution40% Left
Bias Distribution
- 40% of the sources lean Left
40% Left
L 40%
C 30%
R 30%
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